“Alter regarding Control” setting, when, people “person” or “group” away from relevant individuals Bakersfield bank payday loan (therefore terms are provided definition about Exchange Work and you may the guidelines of SEC thereunder) was otherwise gets the particular owner, beneficially or off number, really otherwise indirectly, of greater than fifty% of one’s monetary and you may voting passions (such as the to elect directors or comparable agencies) in the Capital Stock away from Moms and dad the fresh new marketing, lease, transfer, conveyance or any other mood, in one single otherwise some relevant deals, of the many or considerably the property out of Provider and their Subsidiaries as a whole to the “person” (as such identity is offered definition regarding the Exchange Work and you can the guidelines of one’s SEC thereunder); or (c) this new Intermediate Seller should give it up to help you beneficially very own and handle 100% of the economic and you may voting need for the main city Inventory regarding Company additionally the Seller shall cease so you’re able to beneficially own and you may manage 100% of economic and you can voting passions regarding the Money Inventory of this new Advanced Vendor.
“Charge-Back Set-aside Number” setting $0, or such as other amount because the tends to be accessible to off time-to-go out of the events hereto.
Brand new Relationship of any Bank might be equivalent to zero with the new Union Termination Go out
“Charged-Out-of Book” means a lease which, into the for each case, consistent with the Underwriting Policies, possess otherwise need to have started created away from Company’s courses since uncollectable.
“Collateral” means, collectively, every genuine, individual and you can blended property (together with Financial support Inventory) in which Liens are purported to feel granted pursuant for the Equity Documents since cover into the Loans.
Section seven
“Security Data files” form the security Contract, the latest Control Agreements, the newest Vow Agreement, the new Borrower Guarantee Agreement as well as other tools, data and arrangements brought because of the, or on the part of, Business, the fresh new Intermediate Merchant otherwise Merchant pursuant compared to that Contract otherwise people of one’s almost every other Borrowing Data files, because case are, to offer so you’re able to, otherwise finest in favor of, Administrative Broker, towards advantageous asset of Shielded People, a good Lien into the any real, individual or mixed assets of Team while the safety for the Loans or even to manage otherwise keep the passion off Administrative Broker or this new Covered People therein.
“Collection Membership” form an account with membership matter 00000000 during the Xxxxx Fargo Lender, National Connection on term from Providers.
“Collections” means, with respect to each Pledged Lease, any and all cash collections and other cash proceeds of such Pledged Lease (whether in the form of cash, checks, wire transfers, electronic transfers or any other form of cash payment), including, without limitation, all prepayments, all overdue payments, all prepayment penalties and early termination penalties, all amounts collected as fees, or charges for late payments with respect to such Pledged Lease, all recoveries with respect to each Charged-Off Lease, all investment proceeds and other investment earnings (net of losses and investment expenses) on Collections as a result of the investment thereof pursuant to Area six.six, all proceeds of any sale, transfer or other disposition of any Pledged Lease by Company and all deposits, payments or recoveries made in respect of any Pledged Lease to any Controlled Account, or received by Company in respect of a Pledged Lease, and all payments representing a disposition of any Pledged Lease.
“Commitment” means the commitment of a Lender to make or otherwise fund any Loan and “Commitments” means such commitments of the Lenders in the aggregate. Appendix An excellent or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof.
“Commitment Termination Date” means the earliest to occur of (i) , as such date may be extended in the sole discretion of the Administrative Agent and the Lenders; (ii) the date the Commitments are permanently reduced to zero pursuant to Part dos.9(b); (iii) the date of the termination of the Commitments pursuant to 1 and (iv) errors, exceptions or discrepancies exist with respect the reconciliation of the applicable delivered documents to the Lease File with respect to any Proof of Purchase Verification Event or Verification Event and such errors, exceptions or discrepancies have not been remedied, for ten (10) Business Days following written notice thereof by the Required Lenders to the Company.
